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China :, Sources of Real Exchange Rate Fluctuations, Tao Wang

Creator
Abstract
This paper reviews the evolution of China's real effective exchange rate between 1980 and 2002, and uses a structural vector autoregression model to study the relative importance of different types of macroeconomic shocks for fluctuations in the real exchange rate. The structural decomposition shows that relative real demand and supply shocks account for most of the variations in real exchange rate changes during the estimation period. The paper also finds that supply shocks are as important as nominal shocks in accounting for real exchange rate fluctuations, in contrast with other studies that show that, in industrial countries, nominal shocks are more important in explaining real exchange rate fluctuations
Table Of Contents
""Contents""; ""I. INTRODUCTION""; ""II. EXCHANGE RATE REGIME AND DEVELOPMENTS�A HISTORICAL OVERVIEW""; ""III. THEORETICAL BACKGROUND AND ECONOMETRIC FRAMEWORK""; ""IV. PRELIMINARY DATA ANALYSIS""; ""V. ESTIMATION RESULTS""; ""VI. CONCLUDING REMARKS""; ""APPENDIX I. ALTERNATIVE MEASURE OF THE REAL EFFECTIVE EXCHANGE RATE""; ""REFERENCES""
Language
eng
Literary Form
non fiction
Note
Description based upon print version of record
Physical Description
1 online resource (23 p.)
Specific Material Designation
remote
Form Of Item
online
Isbn
9781462383382

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